$1,400,000
$1,300,000
7.7%For more information regarding the value of a property, please contact us for a free consultation.
3,920 Sqft Lot
SOLD DATE : 10/16/2023
Key Details
Sold Price $1,400,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision South Berkeley
MLS Listing ID 41035642
Sold Date 10/16/23
HOA Y/N No
Year Built 1962
Lot Size 3,920 Sqft
Property Description
At 3,944 sq. ft. feet, Berkeley’s 1436 Derby St is a 5-unit (4, 2BR/1BA + 1, 1BR/1BA) multifamily that’s ready to print money. Listed at only $1.3MM but with an estimated annual income of $146K, this property offers an exceptional 6.9% CAP—there’s minimal risk to recovering the investment. The building is earthquake-ready, having been removed from Berkeley’s soft-story list, and includes parking and laundry on-site. Each unit comes with its own water heater, as well as its own meter for all utilities, simplifying property management. 3 units are occupied with strong tenants paying near-market rents, while the other 2 will be delivered vacant allowing the new owner to pick their own occupants and set their own rents. Designated as an R1 zone, this part of Southwest Berkeley is primarily residential, improving 1426 Darby’s long-term capital gains prospects. The property comes with solid Bike and Walk Scores (91 and 83 respectively), and is only a 10-minute ride from UC Berkeley.
Location
State CA
County Alameda
Interior
Heating Natural Gas, Wall Furnace
Fireplace No
Appliance Gas Water Heater
Exterior
Roof Type Tar/Gravel
Total Parking Spaces 5
Building
Lot Description Street Level
Others
Tax ID 5417358
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Bought with Vincent Heung • Compass